Scott Gooding, Executive Director, Budget and Financial Management, Columbus City SD, 270 East State St., Columbus OH 43215, Jenni Logan, Treasurer/CFO, Lakota Local SD, Ryan Stechschulte, Treasurer/CFO, Toledo Public Schools
Course Details: Investing In a Rising Interest Rate Environment
Target Audiences: School Districts
After waiting nearly 10 years for short term rates to go higher, Ohio public investors now find themselves in a rising interest rate environment. Higher interest rates can mean thousands if not hundreds of thousands in extra investment income for some school districts. The presentation will discuss different methods of investing that will take advantage of higher future short term interest rates. The presentation will also discuss typical investment philosophies such as laddering and the barbell method of investing. Finally, the presentation will discuss the pitfalls of trying to time the market and risks of selling investments securities prior to maturity.
At the conclusion of this session, Treasurers will be able to identify different methods of investing during rising and declining interest rate cycles. Treasurers should also learn how these market cycles affect their ability to earn interest income on their investments.
Being a good steward of taxpayer dollars is central to a Treasurer’s role. Effectively investing idle cash in the best yielding options allowable under the Ohio Revised Code is something that can make a huge difference to the school district and I believe warrants CPIM accreditation.
Edmund (“Ted”) Sumnar joined Huntington Capital Markets in December of 2013 as Managing Director of Institutional Investments for Ohio, West Virginia and Indiana markets. Prior to joining Huntington, Ted spent fourteen years in a similar role with Fifth Third’s Institutional Investments Group.
Ted specializes in fixed income investments for national and local institutions, including money managers, mutual funds, financial institutions, insurance companies, governments, schools, corporations and not-for-profit entities.
Ted has been certified as a speaker for the Center for Public Investment Management and is a volunteer in the local American Heart Association, Starfire Council and United Way. Ted received a B.S. in Business from Miami University (1992) and a J.D. from Loyola University at Chicago (1996). Ted also graduated from Culver Military Academy’s summer program (1986). Ted is Series 7 and 63 licensed and retired status as a lawyer.
Course Details: Best Practices in School Budgeting
Target Audiences: School Districts
The Government Finance Officers Association (GFOA) has developed a set of Best Practices focused on budgeting to better align resources with student achievement. These Best Practices align with the work of Smarter School Spending for Student Success. GFOA has worked with practitioners, researchers, and other education finance experts to identify Best Practices in school and community college budgeting. These Best Practices aim to leverage the budget process to align resources to student outcomes. In addition, the GFOA is recruiting school districts to participate in its early adopter group, the Alliance for Excellence in School Budgeting. Members of the Alliance will benefit from interactions with approximately 30 other districts and hands on training in the implementation of the Best Practices. The Smarter School Spending process and resources can help your district achieve the Best Practices and be eligible for GFOA's annual budget awards.
School districts are constantly being asked to do more — improve student learning — with the same or fewer resources. Standards are rising. Technology is evolving rapidly. Requirements for teachers are becoming more rigorous, and their need for effective feedback and development is greater than ever. District leaders, confronting these pressures, know that their ability to succeed goes only as far as their ability to find resources to support their goals.
Smarter School Spending for Student Success is an educational movement started by districts and for districts to help increase student achievement during these times of both greater expectations and greater budget constraints. It introduces a new way of aligning resources (people, time, and money) with your district's student achievement goals. SmarterSchoolSpending.org provides districts with free processes and tools to carry out the Smarter School Spending effort out in your district, plus connections to technical assistance providers and an online community to provide districts with support each step of the way.
The Smarter School Spending process and tools were developed directly from the work done in four demonstration districts and were informed by leading researchers in the field of education. The Parthenon Group and KSA-Plus Communications coordinated the creation of SmarterSchoolSpending.org with extensive support from Fayette County Public Schools (KY), Knox County Schools (TN), Lake County Schools (FL), Rochester City School District (NY), the Boston Consulting Group, the District Management Council, and McKinsey & Company.
Smarter School Spending is about more than just your district's finances. It is a system wide effort to change the way that your district does business. It will allow your district to identify its priorities for improving student achievement, pay for those priorities, and engage the community each step of the way.
Districts that go through the process will produce a strategic finance plan for the next three to five years, an easy-to-understand annual budget document, a stakeholder engagement plan, a plan to continue the work for years to come, and most important, a district wide culture that prioritizes the smart and strategic use of resources aligned to student achievement outcomes.
At the conclusion of this session school business officials will have a better understanding of the budgeting best practices being developed and shared nationwide.
The topics covered in this presentation are important to school district business officials, timely, and provide in depth information on the topics covered. This presentation will cover the best practices that have been developed and shared nationwide in depth. Treasurers and School Business Officials will leave this session with a greater understanding of the value of implementing this approach to school district budgeting.
Scott has been with the Columbus City School District since February 2014. Scott holds a Bachelor of Science degree in Mathematics and a Masters of Education. Scott has been in the school finance business for 20 years. He has previously served as Treasurer/CFO at Fairbanks Local Schools, Fairfield City Schools and Westerville City Schools. He also served as the Director of Fiscal Services at the ESC of Central Ohio. Scott belongs to several professional organizations, served on numerous statewide committees and presented at state and national conferences. Columbus City School District is a member of the Alliance for Excellence in School Budgeting.
Jenni Logan is the Treasurer/CFO of the Lakota Local School District in Butler County. She has held this position since January of 2011. Prior to that she was a Director in the Public Finance Department of Robert W. Baird & Co. Ms. Logan has over 20 years of experience serving school districts in Ohio, which include an ESC, JVSD, CSD, LSD and an EVSD. She has been involved with several state committees for OASBO and served the organization as its state president in 2005-06. Lakota Local School District is a member of the Alliance for Excellence in School Budgeting.
Mr. Ryan Stechschulte is the Treasurer/CFO for Toledo Public Schools. He has been with the school district, which is the top four as far as enrollment in the State of Ohio, since July, 2015.
Prior to making the move to Toledo Public Schools, Mr. Stechschulte served as the Treasurer/CFO of several other school districts, including Ada Exempted, Patrick Henry, Ottawa Hills and Lima City. Throughout his career, he has gained valuable experience in the areas of school law and finance. He has also been involved in setting district policy and being on contract negotiating teams.
Currently, Mr. Stechschulte is a member of the board of directors for OASBO and has presented at numerous local, regional and national conferences on varying topics having to do with school finance.
Course Details: Presenting Complex Financial Information & Creating Understanding
Target Audiences: School Districts
An effective presentation of financial data to boards of education and other stakeholders is essential to sound financial management and public policy decisions. This session will focus on the very real presentation challenges facing today’s school district treasurer and will offer sound examples to use at their own district. Examples that will be discussed include:
“Dealing with negotiations and a cash balance.” “Confronting complex local levies and state revenue interaction in a way that addresses bias.” The seminar will include tips for making sense of complex information for both the ‘lay’ person and the financially informed. As a result of effective communication of the complex the CFO will improve understanding and financial strategies and policy decision making.
This presentation will discuss the very topics that can lead to greater financial stability and informed public policy decision-making.
Provides direct services to our public finance clients. He has over 30 years of public finance experience as a CFO, consultant, and developer and instructor of financial forecasting techniques and tools which have been used by over two hundred Ohio school district CFOs. Ernie works with clients to facilitate their understanding of local financial results , trends, and strategies. He holds both a Master of Science in Administration from Central Michigan University and a Bachelor of Science in Finance from Ohio University.
Katie Henes is the Treasurer for Avon Local Schools since August, 2015. Prior to joining Avon Local, Ms. Henes was the Treasurer for Elyria City SD from 2004 - 2015, having started at Elyria as the Assistant Treasurer in 2004. Previously Ms. Henes served several other school districts, including Ashland City SD as Assistant Treasurer, Olmsted Falls City SD as the treasurer's assistant and Clearview Local SD as an intern and doing college work.
Ms. Henes did her undergraduate work in accounting and finance, and earned her school treasurer licenses with courses through Ashland University. She has an MBA from Mount Vernon Nazarene.
Course Details: Municipal Bond Market - Regulatory Update and Best Practices
Target Audiences: School Districts
The financial meltdown of 2008 caused Congress to enact the Dodd Frank Wall Street Reform and Consumer Protection Act that has now become known to have a direct impact public finance offers, including school treasurers. Issuers of municipal debt are now obligated to make annual information disclosures regarding outstanding debt issues that if not properly handled could cause unfavorable actions to be taken against the school district and its treasurer.
Dodd Frank also placed new regulatory requirements on municipal advisor, bond underwriters and bond attorneys that are important for school treasurers and their staffs to understand as the go forward with new debt issuances and the management of existing outstanding debt. A thorough explanation of the regulatory requirements and how they impact school treasurers will be addressed by this presentation as well as a discuss of best practices to remain in compliance with the regulations.
The objective of this presentation is to inform school treasurers and business officials about the new SEC regulations and provide updates that have occurred over the past 12 months, including how the to adhere to regulations in practice
The participants will gain an understanding of the regulations and how the new rules will impact school officials' activities surrounding the planning and issuance of municipal bonds. Participant will also be provided a list of best practices in debt management that comply with the new regulations including a discussion of GFOA and other best practices for the industry.
Mr. Sudsina, the firm’s principal, provides municipal advisory and deal structuring services, plays an active role in the preparation of official statements for clients and regularly prepares issuers for credit rating presentations. His most critical role, however, is providing pricing and structuring oversight to ensure on-market pricing with the most flexible terms for our clients’ financings. He has served as municipal advisor or lead banker to over 100 cities, counties, schools and special districts in Ohio and Pennsylvania. Overall, as an independent municipal advisor, he and has participated nearly 500 financings amounting to approximately $4 billion in par value.
Mike is one of only two Certified Independent Public Municipal Advisors in the State of Ohio, a certification bestowed upon only highly qualified professionals by the National Association of Municipal Advisors (NAMA). He has published articles on the topic of municipal finance and lectured to numerous academic and professional organizations. He has served on the Debt Policy Committee of the Association of Public Treasurers of the US and Canada, is a member of that organization and of the Government Finance Officers Association, the Cleveland Chapter of the Municipal Finance Officers Association, the Ohio Association of School Business Officials and Sudsina & Associates is a firm member of NAMA and Mike has served on NAMA’s Board of Directors and currently serves as the Board’s President and Treasurer.
Mr. Sudsina formed Sudsina & Associates in 2002, after 11 years in investment banking. Prior to his investment banking career, he held positions with Price Waterhouse, the City of Cleveland's Finance and Economic Development Departments and the firm of Deloitte & Touche. He received his B.S. in Business Administration from The Ohio State University and MBA, with a concentration in finance, from Cleveland State University, holds a CPA certificate and has passed a variety of securities exams including the new Series 50 Pilot Exam for municipal advisors.
Mr. Szanto has over 35 years of experience in municipal government and public finance. He has acted as Municipal Advisor or Senior Managing Investment Banker for hundreds of clients raising over $25 billion in tax-exempt obligations since 1981.Steve is proactive in rating agency and insurance company presentations, and has been involved with many rating agency upgrades and the new emphasis on surveillance and monitoring of credits by the rating agencies. He has served as Municipal Advisor since 2000 for all types of issuers. As such, he provides oversight on all aspects on both competitive and negotiated underwritings; and has helped many clients prepare debt policies. He did the first local government bond issue in Ohio sold on the internet through IPREO’s Parity system in 2000.
Prior to joining Sudsina & Associates in 2007, Steve served as a Public Finance banker for a number of firms starting in 1981 with Prescott, Ball & Turben, Inc., National City Public Finance and McDonald & Co. Securities and others. He also spent nearly five years at Public Financial Management's (PFM) Ohio Office as Senior Managing Consultant.
In the public sector, he worked for the Northeast Ohio Area-wide Coordinating Agency (NOACA); and as an Assistant City Planner for the City of Cleveland City Planning Commission in the early 1970s. Mr. Szanto is also a Certified Independent Public Municipal Advisor as designated by NAMA and serves on NAMA’s regulatory committee. He received a Bachelor of Arts degree from Bowling Green State University, a Master of Science degree in Urban Studies, and a Master of Business Administration degree in Finance from Cleveland State University. He received his Fourth Degree Black Belt in Tae Kwon Do in 2014 and is currently working toward his Fifth Degree. Steve is a member of the GFOA, the CCAO, MFOA, and OASBO and the OAPTA. He has also passed a series of securities exams including the new Series 50 Pilot Exam for Municipal Advisors.
Mr. Van Wagnen provides analytical support for all clients including debt service structuring, actively assisting in the preparation of official statements and credit rating presentation and market research in advance of pricing and post-pricing.
Prior to joining Sudsina & Associates Greg worked in various roles at JP Morgan Chase. There he ran the technology aspect of their Wealth Management trading desk. He has also served as a risk management analyst for the JP Morgan Institutional Bond department where corporate client accounts ranged from $100 million to $12 billion. He has spent time in multiple equity research roles in Columbus and Chicago and in a more analytical role he researched trading slippage costs of different brokers. Between undergraduate and graduate school Greg worked as an accountant for JP Morgan Chase’s mortgage department.
Greg received a Bachelor of Science in Business Administration, Finance, and Economics from The Ohio State University and went on to attain a Master of Finance degree, also at OSU. He is continuing his education in the Chartered Financial Analyst program and is planning to sit for the MSRB’s Series 50 exam. Before attending college Greg worked at his family’s Cleveland based school bus and coach bus company running their payroll department and filling their general accounting needs. Greg has also has passed the new Series 50 Pilot Exam for Municipal Advisors.